"The Big Short" Burry keeps a low profile while revoking registration: quietly managing family and friend funds

The prototype character in the movie "The Big Short", Michael Burry, who accurately predicted the 2008 subprime mortgage crisis, stated that although his hedge fund company Scion Asset Management has deregistered with the U.S. Securities and Exchange Commission (SEC), he is still actively operating in the market. In an email on Tuesday, he wrote, "This operation has basically always been a fund aimed at friends and family. I did not market it, nor did I go to do what most people did. I did not try to increase assets under management by attracting unfamiliar investors. I do not want to encounter the troubles I faced when founding Scion Capital again. I am still managing my own funds and active in the market." The 54-year-old Burry closed his previous company, Scion Capital, in 2008 after successfully shorting bonds backed by the riskiest housing mortgages. In 2013, he founded Scion Asset Management. Since then, his trades have been closely watched, and market observers have been carefully studying his company's regulatory filings. Recently, the fund disclosed bearish bets on NVIDIA Corporation (NVDA.US) and Palantir (PLTR.US). The filings also showed bullish call options on Halliburton Company (HAL.US) and Pfizer Inc. (PFE.US). Burry wrote on Tuesday, "I am very happy to be rid of the compliance burdens and misunderstandings caused by the filings I submitted. Scion Asset Management has not closed, as it is also the platform I use for other investment activities. It is no longer a registered investment advisory firm, nor does it manage funds for external investors." He has also become a popular figure on social media, known for his cautionary comments on the market and economy. In late October, he posted a cryptic warning about market excess.